Process notes / Standard Operating Procedures (SOP)
Process notes are detailed instructions that address the specific responsibilities given in the policy documents; process notes detail the roles and responsibilities of each department / responsible person in executing a process/ transaction; it is expected that process notes have fair granularity, on how exactly a process is executed, including the controls to be exercised. In an advanced operational risk management environment, the process notes tend to be very articulate and define the processes granularly and leave no scope for ambiguity or misinterpretation by those responsible for execution.
Taking the same example as in policies, in a lending institution, a credit process note would detail the exact steps that an organisation is to follow, in lending money to a customer and all the checks and controls expected to be done in the process. A manufacturing process manual may describe in detail aspects like the factory specifications, technology used in the process or the sub-process, the assembly line, the specific departmental, and individual roles and technical tasks, output, productivity and the quality expected.
No comments:
Post a Comment